US Gulf:
The last NOLA ammonium sulfate barge business remained at the $385-$390/st FOB level.
US Imports:
Ammonium sulfate imports for July-April firmed 58.7%, to 1.06 million st from the year-ago 666,249 st. April imports inched down 0.1%, however, to 147,836 st from 147,953 st in April 2023.
Imports from Canada were noted at 441,568 st for July-April, ahead of 193,422 st from Belgium. The Netherlands leapfrogged Germany and Russia into third place with 116,160 st, ahead of Germany’s 105,423 st.
US Exports:
Ammonium sulfate exports softened 17.5% in July-April, to 547,210 st from the year-ago 663,012 st. April exports were counted at 20,770 st, dropping 65.7% from the 60,502 st reported one year earlier.
Exports to Peru totaled 161,999 st in July-April, followed by Canada with 75,194 st. Mexico took 57,083 st, ahead of 51,695 st sent to the Dominican Republic.
Eastern Cornbelt:
Granular ammonium sulfate was steady at $415-$435/st FOB in the Eastern Cornbelt, with the low confirmed at Illinois River locations and the high in Ohio.
Western Cornbelt:
The granular ammonium sulfate market remained at $410-$430/st FOB in the Western Cornbelt, with the low reported at St. Louis.
Northern Plains:
Sources quoted the latest prompt granular ammonium sulfate offers in the Northern Plains at $390-$410/st FOB St. Paul, Minn., $400-$425/st FOB North Dakota terminals, and $430/st DEL in North Dakota.
Northeast:
The granular ammonium sulfate market remained at $415-$430/st FOB and $415-$425/st DEL in the Northeast in mid-June.
Eastern Canada:
The ammonium sulfate market fell to C$555-$675/mt FOB in Eastern Canada, depending on location and supplier, with the low end of the range reflecting a C$15/mt drop from last report.
China:
Reports of lower urea prices were expected to pressure the ammonium sulfate market lower. The lowest price offered into a Thai caprolactam grade amsul tender during the week showed a netback of $170-$175/mt FOB to China. At the same time, sources in China reported the current market in the low-$170s/mt FOB, reflecting a $10/mt drop from last report.
January-May ammonium sulfate exports totaled 5.3 million mt, according to Trade Data Monitor, a 14% increase on the year-ago 4.7 million mt. Brazil was China’s largest buyer with 881,000 mt. May exports were 1.3 million mt, above the 1 million mt shipped in May 2023.
South Korea:
Trade Data Monitor reported January-May ammonium sulfate exports at 19,000 mt, down significantly from the 72,000 mt sent through the first five months of 2023, with most of the exports shipping in May. May exports of 19,000 mt were all sent to New Zealand, down about 25% from the 25,000 mt shipped in May 2023.
Fewer exports from South Korea could indicate stronger domestic demand for amsul in blended fertilizers, sources speculated.
Brazil:
Brazil granular ammonium sulfate traded at a flat $200/mt CFR, in the middle of last week’s $195-$205/mt CFR range.
Following weeks of rising international prices, Rondonópolis prices firmed 6%, to $325-$335/mt FOB. Recent softening in the international nitrogen market could weigh on Brazil amsul in the near term, however.
Higher imports in 2024 – pegged at approximately 1.27 million mt in January-May – could also pressure prices. The import growth was highlighted by a 7% increase in product received from China, which is currently trading at lower prices in the domestic market.